EPFO had determined to maintain rate of interest for 2020-21 unchanged at 8.5 per cent
With the Employees’ Provident Fund Organisation (EPFO) having finalised the rates of interest on provident fund deposits for 2020-21 at 8.5 per cent, the retirement physique is prone to credit score the curiosity quantity within the accounts of its subscribers by July, 2021.
Sources with the EPFO mentioned that the curiosity quantity is prone to be credited within the accounts of subscribers by subsequent month, nonetheless the precise date isn’t but clear.
EPFO had, through the assembly of its Central Board of Trustees in March 2021, determined to maintain the rate of interest for 2020-21 unchanged at 8.5 per cent. In 2019-20 additionally the rate of interest was at 8.5 per cent.
Due to the Coronavirus pandemic, EPFO had lower down the rate of interest to a seven-year low of 8.5 per cent for 2019-20 in final March.
In 2018-19, the speed of curiosity was 8.65 per cent, whereas it was 8.55 per cent in 2017-18.
The EPFO’s trustees meet yearly in March to finalise the rate of interest for the continued fiscal after evaluating its deposits.
